International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Active

Bank Risk Rating

B

Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.

Voting Date

Dec 8, 2017

The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.

Borrower

FRAPORT REGIONAL AIRPORTS OF GREECE A SOCIETE ANONYME

The holder of the loan, grant, or other investment.

Sectors

Infrastructure

Transport

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, etc.

Investment Amount (USD)

$ 238.01 million

Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Project Cost (USD)

$ 871.26 million

Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 820
Converted using 2016-12-08 exchange rate.

Project Description

This project consists of the privatization, upgrade, maintenance, management and operation of 7 Greek regional airports, under a 40-year concession. These airports include Thessaloniki, Kerkyra (Corfu), Chania (Crete), Kefalonia, Zakynthos, Aktion and Kavala.
Some of the immediate components will include terminal refurbishment and expansion, rebuilding of rescue and firefighting building, new landslide configurations, and new aprons. These will be completed within the first 4-years of the concession.

Investment Description

International Finance Corporation (IFC)

This project provides an A loan of USD$175.68 million, risk management of up to USD$6.5, and an equity investment of USD$55.83

Contact Information

ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/